Commerce Past Questions And Answers
61
in a law of contract, a counter offer operates as?
- A. an acceptance
- B. a consensus
- C. a rejection
- D. a contract
62
Which of the following roles is performed by middle management in an organization?
- A. formation of objectives and strategies
- B. review of master plans, programmes and budgets
- C. review and appraisal of operational results
- D. implementation of organizational plans and objectives
63
The rate at which a central bank discounts first class bills is called the
- A) fixed rate
- B) bill rate
- C) bank rate
- D) interest rate
64
An agent who takes title to goods and has authority to buy and sell on behalf of another is
- A. A jobber
- B. A broker
- C. A factor
- D. An auctioneer
65
The method of sending message by the teleprinter?
- A. telephone
- B. cable gram
- C. telex
- D. railex
66
In law of contract, a counter offer operates as
- A. an acceptance
- B. a rejection
- C. an offer
- D. a contract
67
A problem associated with barter is
- A. poor road network delaying transportation of goods
- B. inability to measure what is to be exchanged
- C. difficulty in collecting debt
- D. inability to produce enough goods
68
The relationship which subsists between between two or more persons carrying on a business with a view to profit is
- A. cooperative society
- B. partnership
- C. public limited company
- D. credit union
69
Factorizing is a trade debt term used when the agent buys all the trade debts of the
- A) Importer
- B) Exporter
- C) Nations
- D) customers
70
The main idea of the marketing concept is that all the firm's plans and operations should be
- A. product oriented
- B. price oriented
- C. consumer oriented
- D. company oriented.

